For South African readers · Source checks: 7 October 2026
A licence number on a website is a starting point, not the whole check. Match the registered company to the business contacting you and the entity in your account agreement before sending money or identity documents.
The quick check
- Find the full company name and claimed Financial Services Provider (FSP) number.
- Open the official FSCA register independently.
- Compare the company name, status and relevant permissions.
- Verify the website and contact details through an independent official route.
- Identify the company that will hold your trading account.
1. Start with the legal name
Look in the proposed client agreement and the website’s legal section. A trading brand and a registered company may have different names. Write both down. If the salesperson cannot identify the contracting company, treat the check as incomplete.
2. Search the official register
Use the FSCA’s regulated people and entities section or its FSP search. Search by the claimed number or company name. Check the current record rather than relying on a screenshot or certificate supplied in a message.
Read the recorded status and approved services. If the record is unclear, ask the FSCA to confirm the relevant permissions for the service being offered. Finding a company in the register does not mean every activity, product or website using its name is authorised.
3. Check for impersonation
A genuine company’s number can be copied. Independently verify who is contacting you. Do not accept a claim that official contact details are outdated without checking through the official organisation. The UK FCA describes this pattern as a clone firm; its warning illustrates the fraud mechanism, not South African account protections.
4. Read the account agreement
Ask: “Which exact company is my contract with, which regulator supervises that entity, and what role does the South African company perform?” If the agreement names a different or offshore entity, obtain a clear explanation. Do not assume a local FSP number gives the same protections to an account held elsewhere.
Keep a simple verification record
Copy this checklist into your notes:
- Trading brand:
- Contracting company:
- Claimed FSP number:
- Official register status and date checked:
- Relevant services confirmed:
- Website/contact details independently checked:
- Account jurisdiction and complaints route:
- Unanswered questions:
Keep links or copies of the documents you used. Recheck before opening an account if the documents, entity or website have changed.
What the check cannot tell you
A register check does not measure spreads, execution quality or withdrawal experience. It does not make leveraged trading low risk or guarantee returns. Treat it as one part of your decision, alongside total trading costs, funding and account currency, and CFD risks.
Questions readers ask
Is an FSP number proof that the website is genuine?
No. Match the number to the registered entity, verify the contact route and check the contract. Impersonators may copy real details.
Does “regulated globally” answer the question?
No. You need the regulator and permissions of the specific entity serving your account.
Should I deposit while checks are incomplete?
Do not let pressure replace verification. Resolve identity and permission questions first.
Sources and method
FSCA register access; FSCA public warnings; FCA: forex scams and clone firms. This guide combines official-source research with an original verification worksheet. It is AI-assisted educational content, not a broker endorsement, an independent legal opinion or a claim of hands-on account testing. Read our research standards.